Ramaco Resources Inc. announced that Yorktown Energy Partners IX LP made an in-kind distribution of 1 million shares of the coal producer's common stock, or about 2.4% of outstanding shares, to its general and limited partners on March 25.
With the distribution, Yorktown IX holds nearly 12 million shares, or about 29.3% of Ramaco's total outstanding shares, according to a March 26 release. Yorktown IX made two prior distributions that amounted to 1.8 million shares to its general and limited partners. The recently distributed shares are permitted to be sold immediately.
Yorktown Energy Partners X LP owns nearly 3.7 million shares, or 9%, of Ramaco's common stock and Yorktown Energy Partners XI, L.P. owns about 5.6 million shares, or 13.7%. All the Yorktown funds now own 52% of the coal producer.